L1ECO

Economics Level 1

Course Description

Teacher in Charge: Mr B. Choromanski

This level focuses on how two sectors of the economy (households and firms) interact through the market. This interaction results in economic decisions about what will be produced and the process of production.

General
This Course aims to:
1. Demonstrate understanding of consumer choices, using scarcity and/or demand.
2. Demonstrate understanding of decisions a producer makes about production.
3. Demonstrate understanding of producer choices using supply.
4. Demonstrate understanding of how consumer, producer and/or government choices affect society, using market equilibrium.
5. Demonstrate understanding of a government choice where affected groups have different viewpoints.
6. Demonstrate understanding of the interdependence of sectors of the New Zealand economy.

This level of study is organised into six major topics.
Theme 1 The Conceptual basis of Economics
You will develop an understanding of consumer choices, producers decisions, producer choices, government choices, the markets, and interdependence of sectors of NZ economy.
Theme 2 Processing
You will learn how to process, present and analyse statistical data in relation to two contemporary economic issues.
Theme 3 Economic Models
You will learn to provide detailed explanation with the use of economic models like demand and supply, and Circular Flow.
Theme 4 Market Equilibrium
You will demonstrate understanding of how consumer, producer and/or government choices affect society, using market equilibrium
Theme 5 Governement supply of Goods and Services
You will demonstrate understanding of a government choice where affected groups have different viewpoints
Theme 6 Interdependence
You will demonstrate understanding of the interdependence of sectors of the New Zealand economy


Recommended Prior Learning

Open Entry

Pathway

Credit Information

Total Credits Available: 24 credits.
Externally Assessed Credits: 12 credits.
Internally Assessed Credits: 12 credits.

Assessment
Description
Level
Internal or
External
Credits
L1 Literacy Credits
UE Literacy Credits
Numeracy Credits
A.S. 90983 v3
NZQA Info
Economics 1.1 - Demonstrate understanding of consumer choices, using scarcity and/or demand
4
4
4
Level: 1
Internal or External: External
Credits: 4
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 90984 v3
NZQA Info
Economics 1.2 - Demonstrate understanding of decisions a producer makes about production
Level: 1
Internal or External: Internal
Credits: 5
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 90985 v3
NZQA Info
Economics 1.3 - Demonstrate understanding of producer choices using supply
Level: 1
Internal or External: External
Credits: 3
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 90986 v3
NZQA Info
Economics 1.4 - Demonstrate understanding of how consumer, producer and/or government choices affect society, using market equilibrium
5
5
5
Level: 1
Internal or External: External
Credits: 5
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 90987 v3
NZQA Info
Economics 1.5 - Demonstrate understanding of a government choice where affected groups have different viewpoints
Level: 1
Internal or External: Internal
Credits: 4
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 90988 v3
NZQA Info
Economics 1.6 - Demonstrate understanding of the interdependence of sectors of the New Zealand economy
3
3
3
Level: 1
Internal or External: Internal
Credits: 3
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
Credit Summary
Total Credits: 24
Total Level 1 Literacy Credits: 24
Total University Entrance Literacy Credits: 0
TotalNumeracy Credits: 0

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